Overview

Description

Foresite Capital Partners, in cooperation with Hanna Commercial Real Estate, a licensed Ohio broker, is pleased to present a new construction ALDI located at 38315 Chestnut Ridge Road in Elyria, Ohio. The subject offering features a new 20-year ground lease, with 10% rental increases every 5 years starting in Year 11 of the initial term. Elyria, Ohio is a vibrant suburb home to 52,800 people, located 28 miles west of downtown Cleveland. The property is located on an oversized 3.14-acre parcel, next to a brand-new Sheetz’s fuel station. The site is positioned in a strong retail corridor across from a Walmart anchored shopping center. The surrounding area is home to 90,000 residents in a five-mile radius that have an average household income of $80,000. The asset’s strong fundamental real estate, combined with a fresh 20-year ground lease to a blue-chip grocery store tenant, make it an excellent net lease investment opportunity.

Highlights

• 20 YEAR NNN GROUND LEASE | 10% INCREASES
• FLAGSHIP PROTOTYPE STORE | GROWING TRADE AREA
• NEAR TWO SIGNALIZED CORNERS | EXCELLENT TRAFFIC
• STRONG TARGET DEMOGRAPHICS | CLEVELAND SUBURB
• NEW CONSTRUCTION | OVERSIZED 3.14 ACRE PARCEL

Documents

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